The appearance of a Hidden Bullish Divergence in XPD/USD provides potential for strengthening today. Wednesday, November

[Ben Graham]

[XPD/USD]

Although the RSI is in the Neutral-Bearish level, but with the appearance of a Hidden Bullish Divergence and both EMAs still in a Golden Cross formation present an opportunity for strengthening up to its nearest resistance level.

Key Levels:

1. Resistance. 2 : 1496.76

2. Resistance. 1 : 1479.04

3. Pivot : 1452.03

4. Support. 1 : 1434.31

5. Support. 2 : 1407.30

Tactical Scenario:

Positive Reaction Zone: If the price of XPD/USD breaks above 1452.03, it may move toward 1479.04.

Momentum Extension Bias: If 1479.04 is breached, XPD/USD is likely to reach 1496.76.

Invalidation Level / Bias Revision:

The upside bias weakens if XPD/USD declines and drops below 1407.30.

Technical Summary:

EMA(50) : 1450.49

EMA(200): 1430.06

RSI(14) : 36.45 + Hidden Bullish Divergent

Economic News Release Agenda:

Today, there are no economic data releases from the U.S. market session.

The material has been provided by InstaForex Company - www.instaforex.com